Your invoicing window is fairly flexible with construction, since projects will typically last for a considerable amount of time. From the initial meeting, the project will have to be evaluated, laid out and scheduled. Often, projects need to be completed in phases, with lengths of time in between those phases.
One option is to match your invoicing with project phases—this ensures you’re getting paid consistently as the job unfolds and more material is needed. For instance, if you’re renovating multiple rooms in a home and doing one room at a time, you may bill for the materials and work as each room is completed. Similarly, if it’s a larger project -- such as building an addition to a home, you may divide payments up into monthly installments over the specified duration of the project. This option may be ideal all-around as customers often prefer to pay in installments.
Another route you can take is to charge the full amount after the job is completed to your customer’s satisfaction. More wary customers prefer this as they are assured the job won’t be left partially completed. This option requires more up-front capital from your company, and it may not be the best choice for smaller operations.
A third option is to require full or partial payment before the project starts. Not only may this method be off-putting to some customers, but you may sacrifice wiggle room for unforeseen costs as the job progresses.